Biobanking for Medicine Market: Global Industry Analysis and Forecast (2023-2029)

Biobanking for Medicine Market size was valued at US$ 47.48 Bn. in 2022 and the total revenue is expected to grow at a CAGR of 6.2% through 2023 to 2029, reaching nearly US$ 72.34 Bn.
Biobanking for Medicine Market Overview:
Biobanks are repositories of human biological tissue specimens and associated health information. Biobank research aims to bring new insights into disease's hereditary component, resulting in a more tailored approach to healthcare. Blood Products, Solid Tissue, Cell Lines, and Nucleic Acid are some of the specimen types of the biobanking for medicine market. Population-based Biobanks, and Disease-oriented Biobanks are the types of the Biobank.To know about the Research Methodology:-Request Free Sample Report
Biobanking for Medicine Market Dynamics:
The increasing number of applications for Biobank samples, increased financing for biobanking from government and commercial organisations, and the increase in genomic research efforts are all driving the biobanking for medicine market forward. For example, the German Biobank node project received €3.5 million in financing from the Federal Ministry of Education and Research in January 2021 for a three-year period. Furthermore, in May 2021, the Victorian government allocated $5 million to the Doherty Institute's new COVID-19 Biobank. One of the largest virtual Biobanks in the world will be revealed by the Medicines Discovery Catapult in August 2021.

The virtual network's rapid growth now includes 330 clinical sites and 1.5 million bio-samples, increasing the types of clinical samples available for drug development and diagnostic processes. The rise of chronic diseases like as autoimmune diseases, cancer, and blood disorders is fuelling the biobanking for medicine market's growth. Furthermore, the rise in the number of people suffering from chronic diseases drives the market forward.

However, negative consequences of biobanking, including as legal and ethical issues, as well as a lack of awareness about Biobanks, are expected to restrain the biobanking for medicine market growth during the forecast period.
Biobanking for Medicine Market Segment Analysis:
The Biobanking for Medicine Market is segmented by Specimen Type, Type of Biobank, Ownership, Application, and End-User.

Based on the Specimen Type, the market is segmented into Blood Products, Solid Tissue, Cell Lines, Nucleic Acid, and Others. Blood Products segment is expected to hold the largest market shares of xx% by 2029. This is due to a growth in the incidence of haematological illnesses, an increase in the need for blood products for specimen collection, and an increase in accidents.

The Solid Tissue segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2023-2029. This is due to an increase in demand for regenerative medicines, an increase in the frequency of cardiovascular and neurological illnesses, and an increase in the requirement for organ storage for transplant.

Based on the Application, the market is segmented into Therapeutic, and Research. Research segments is expected to grow rapidly at a CAGR of xx% during the forecast period 2023-2029. This is due to the rise in chronic disease cases and advances in regenerative medicine.

The therapeutic segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2023-2029. This is due to an increase in the frequency of chronic diseases and trauma crises, as well as an increase in the incidence of degenerative diseases and a scarcity of organs for transplantation.
Biobanking for Medicine Market Regional Insights:
Europe region is expected to dominate the Biobanking for Medicine market during the forecast period 2023-2029. Europe region is expected to hold the largest market shares of xx% by 2029. This is due to increased adoption of advanced technologies and increased awareness of biobanking among healthcare professionals and individuals working in the R&D industry in the Europe region. Furthermore, the biobanking market is being driven by an increase in R&D activities in the healthcare sector to develop novel biobanking, as well as the presence of significant players operating in the region.

Asia Pacific is expected to grow rapidly at a CAGR of 7.8% during the forecast period 2023-2029. This is due to easy availability to cost-effective blood storage and increased knowledge of the benefits of cord blood in the Asia Pacific region.

The objective of the report is to present a comprehensive analysis of the Global Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Global Market dynamic, structure by analyzing the market segments and project the Global Market size. Clear representation of competitive analysis of key players by Type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Market make the report investor’s guide.
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Biobanking for Medicine Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 47.48 Bn.


Forecast Period 2023 to 2029 CAGR:
6.2%
Market Size in 2029:
US $ 72.34 Bn.


 Segments Covered:
by Specimen Type
Blood Products
Solid Tissue
Cell Lines
Nucleic Acid
Others


by Type of Biobank
Population-based Biobanks
Disease-oriented Biobanks


by Ownership
National/regional agency
Non-Profit Organization
Universities
Private Organization


by Application
Therapeutic
Research


by End-User
Academic Institutions
Pharma & Biotech Companies



Biobanking for Medicine Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Biobanking for Medicine Market, Key Players are
1. Tecan Group Ltd.
2. Thermo Fisher Scientific Inc.
3. Qiagen N.V.
4. Hamilton Company
5. Brooks Automation
6. TTP Labtech
7. VWR Corporation
8. Promega Corporation
9. Worthington Industries
10. Chart Industries
11. Becton
12. Dickinson and Company
13. Merck KGaA
14. Micronic
15. LVL Technologies GmbH & Co. KG
16. Panasonic Healthcare Holdings Co. Ltd
17. Greiner Bio One
18. Biokryo GmbH
19. Biobank AS
20. Biorep Technologies Inc.

Frequently Asked Questions:

1] What segments are covered in Biobanking for Medicine Market report?
Ans. The segments covered in Biobanking for Medicine Market report are based on Specimen Type, Type of Biobank, Ownership, Application, and End-User.

2] Which region is expected to hold the highest share in the Biobanking for Medicine Market?
Ans. Europe is expected to hold the highest share in the Biobanking for Medicine Market.

3] Who are the top key players in the Biobanking for Medicine Market?
Ans. Tecan Group Ltd., Thermo Fisher Scientific Inc., Qiagen N.V., Hamilton Company, Brooks Automation, TTP Labtech, and VWR Corporation are the top key players in the Biobanking for Medicine Market.

4] Which segment holds the largest market share in the Biobanking for Medicine market by 2029?
Ans. Blood Products segment hold the largest market share in the Biobanking for Medicine market by 2029.

5] What is the market size of the Biobanking for Medicine market by 2029?
Ans. The market size of the Biobanking for Medicine market is expected to reach US $ 72.34 Bn. by 2029.

6] What was the market size of the Biobanking for Medicine market in 2022?
Ans. The market size of the Biobanking for Medicine market was worth US $ 47.48 Bn. in 2022.